Andrews pitchfork
Updated
Noncommercials have added to long positions 15k last week, they are 44.7k long and 53.2k short,
I expect retracement around the first warningline,
In ABCD formation ;
if ABC angle 0.681 then BCD angle is awaited to be 1.681
if ABC angle 0.707 then BCD angle is awaited to be 1.410.
I open trades with break and retest with limit orders.
Sometimes I can not catch the price, because it does not make retest,
but that way , in the long term I do not stay in front of the momentum
I expect retracement around the first warningline,
In ABCD formation ;
if ABC angle 0.681 then BCD angle is awaited to be 1.681
if ABC angle 0.707 then BCD angle is awaited to be 1.410.
I open trades with break and retest with limit orders.
Sometimes I can not catch the price, because it does not make retest,
but that way , in the long term I do not stay in front of the momentum
Order cancelled
countertrendline not broken
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.